According to court documents, on March 6, 2008, the Securities and Exchange Commission barred Williams from association with any investment adviser and revoked the investment adviser registration of C.R. Williams, Inc. Williams and his corporation continued to accept investments into the two funds until 2012. Williams devised a scheme to defraud financial investors by promising that the funds they provided to him were maintained in the C.R. Williams Investment Fund and C.R. Williams Tax Advantaged Fund. Without the authorization of investors, Williams made multiple electronic transfers from investor accounts into his two investment funds. In order to conceal the transfers, Williams prepared and mailed fraudulent portfolio valuations for his two funds to investors. He used the investors' funds to pay for his office rental, personal expenses, mortgage and vehicle expenses, as well as to draft checks which he made payable to himself.